Real Estate

Our Real Estate Department is recognised as outstanding in Ireland and is consistently rated as a tier 1 practice by leading legal directories. This innovative and hugely experienced team has been heavily involved in the majority of landmark real estate transactions in Ireland in recent years. Our clients include large institutional investors, international private equity funds, receivers, public and local authorities, developers and major Irish, UK and US retailers. Our lawyers have detailed knowledge of the Irish property market and keep constantly up to date with evolving trends. The firm maintains close contact with the leading intermediaries in the market and is a regular sponsor and contributor to property industry events in Ireland. We pride ourselves on our commercial, robust and pragmatic advice with its constant aim of bringing projects to successful conclusions.

Areas of expertise include:

Acquisition and disposal

Development

Planning and environmental issues

Construction

Financing

Joint ventures and ownership structures

Tax

Management structures

Landlord and tenant issues

Sale and leasebacks

Qualifying Investor Alternative Investment Funds ‘QIAIFs’ (including the use of ICAVs and other structures)

Our team has been heavily involved in most of the high profile property investment transactions in recent years. We have amassed significant expertise in distressed real estate transactions, both direct investment and indirectly through loan portfolio acquisition. In tandem with our Asset Management Group, we are experienced in the tax efficient structuring of investment through the use of property QIFs (Qualifying Investor Fund). We completed the first ICAV conversion in Ireland in 2015 and have since acted for several funds in the conversion of their companies to ICAVs.

We have a particularly strong knowledge and reputation in the retail and leisure sectors. We also have substantial expertise in property joint venture arrangements.

Acted for Hammerson and Allianz Real Estate, the successful purchaser on the largest real estate related transaction in the history of the Irish state, Project Jewel, a loan portfolio with a par value of EUR€2.6bn

Advising NAMA on the €300m development of the iconic Boland’s Mill in the heart of Dublin docklands,

Advised Value Retail on the development and expansion of Kildare Village outside Dublin, one of the its large portfolio of outlet shopping villages across Europe and Asia, including Bicester Village outside London

Carried out full due diligence and negotiated contracts and structuring join venture arrangements within a €120m ICAV structure for York Capital and ClarendonProperties in respect of Wilton Shopping Centre

Acted for NAMA in the €30m sale of The Liffey Collection which comprised of modern office blocks in Dublin city centre

Irish intellectual property office revokes trade mark registrations due to non-use in Ireland. An online presence found not to target Irish customers specifically is not sufficient to maintain a registration

Changes to Ireland's Section 110 securitisation regime was announced on 6 September 2016. After a period of consultation, a revised version of these proposals was included in the Finance Bill 2016 (the "Bill") that was published on 20 October 2016.

We are consistently ranked as one of the leading Commercial Property law firms in Ireland.

Department

"Clients enthuse that the team is "extremely commercial, practical, good at identifying the pitfalls and extremely responsive." Interviewees comment that the lawyers "fight hard for the client and do everything for the best interest of the client." Chambers Europe 2017

"The team's level of attention to detail is second to none, and the commercial acumen is really impressive." The lawyers really know what they are talking about. These complicated deals only came together due to their expertise and ability to be commercial." Chambers Europe 2016

"This team is dedicated and solution driven, really going the extra mile to get the what the client wants. The lawyers are also approachable and humble. I think the firm is a fantastic service provider." Chambers Europe, 2015

"The team has the legal knowledge, but doesn't focus on being academic; rather they look at what the client requires and advise accordingly." "The lawyers are very commercial, they will explain legal matters and the implications they have in our situation; we have confidence in the advice they give us." Chambers Europe, 2014

William Fry has expertise in the distressed asset and distressed debt sectors of the property market. It recently advised Deutsche Bank on the acquisition of a significant loan book from PTSB. Andrew Muckian’s team includes Patricia Kenny, Edward Spain and Karen Sheil, who is ‘a safe pair of hands in difficult negotiations’. Legal 500 EMEA, 2014

Sources say: “The firm is a go-to for big questions. The team has great expertise, and reflects on what the problem really is: they don't just think like lawyers.” Chambers Europe, 2013

Team

Edward Spain

Clients say that Edward Spain is "really commercial and finds the main point to focus on."Chambers Europe 2017

Clients praise him for being "absolutely superb at handling complex issues," adding: "The level of work he did in a short timeframe was phenomenal." Chambers Europe 2016

Edward is "highly regarded and meticulous". Chambers Europe, 2015

Edward Spain is a 'deal-closer’. Legal 500 EMEA, 2015

Edward Spain represented Friends First in the EUR20 million sale of St Martin's House. Peers recognise him as a "fine practitioner" and particularly note his involvement with NAMA-related transactions. Chambers Europe, 2014

Edward Spain is considered “excellent. You can shoot a query at him and he will get back quickly.” Chambers Europe, 2013

Edward Spain is ‘very good at plotting a road map’.Legal 500 EMEA, 2013

Andrew Muckian

Andrew Muckian stands out for development and property investment matters. Clients highlight that he is "very thorough and good at identifying solutions." Chambers Europe 2017

Interviewees say: "He proved extremely efficient, commercial and practical with a good legal brain. He was able to bring commercial focus to an extremely tight transaction." Chambers Europe 2016

Andrew remains "very highly rated".Chambers Europe, 2015

Andrew Muckian is a 'stand out lawyer'.Legal 500 EMEA, 2015

Department head Andrew Muckian recently assisted Kennedy Wilson with the acquisition of 420 residential units for development. He is well respected by peers, particularly in the area of retail leases. Chambers Europe, 2014

Andrew Muckian is described as "unflappable and practical, and will highlight risks without labouring the point." Chambers Europe, 2013

Lead partner Andrew Muckian is admired across the market. Legal 500 EMEA, 2013

Karen Sheil

According to clients, Karen Sheil is "exceptionally good on the client service end and extremely accommodating."Chambers Europe 2017

Sources say: "She gives you the pros, the cons, and a recommendation. Her level of knowledge is superb."Chambers Europe 2016

Karen Sheil is a "very commercial lawyer" who offers "sensible overall advice and is quick to respond to any queries. She makes the process as hassle-free as possible. Very practical." Others highlight her as a "good negotiator, who has common sense and understands her clients' businesses intricately." Chambers Europe, 2015

Karen Sheil is ‘technically strong’. Legal 500 EMEA, 2015

Karen Sheil ‘is very savvy,commercially focused and has an excellent capacity to negotiate - not aggressive but focused on getting the desired result’. Chambers Europe, 2014

Karen Sheil is described as “committed, dedicated and hard-working." Chambers Europe, 2013

Brian O'Callaghan

Brian O'Callaghan advises a number of retail clients on entry into the Irish market and on property acquisitions. Clients value that he is "very straightforward to deal with." Chambers Europe 2017

Clients highlight Brian O'Callaghan for dealing with issues "in a proactive manner, discussing matters at length to find the right solution for all parties."Chambers Europe 2016

Brian O'Callaghan attracts effusive praise from sources: "He works hard to get exactly what the client is looking for; he is one of the best solicitors I have come across." He has notable experience of real estate disputes. Chambers Europe, 2015

According to clients, Brian O'Callaghan is “fantastic, with a great understanding of business.” Chambers Europe, 2013